While Amazon is counting its money from its third annual Amazon Prime Day - the e-commerce giant's midsummer event generated an estimated $1 billion in sales, its biggest single day ever - other U.S. retailers didn't simply watch from the sidelines. Some counter-attacked and built momentum that will carry forward into the critical holiday shopping season.
In the consumer goods industry, competitive advantage and customer knowledge have long gone hand in hand. By learning how consumers think, by anticipating which products will create a buzz in the market, leading brands develop winning products and plan their production schedules in time for a rush on the stores.
Customers who are visiting a physical store or an online store are on a mission; they are looking for something; they are fulfilling a need. To drive loyalty and increase sales, providing consumers with personalized convenience is critical for retailers. However, a retail store is a blunt instrument that can often be frustrating for consumers.
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